We all know it, in today’s world every penny counts. And the need for a savings account that provides us with a higher interest rate has never been more. It has now become more important than ever to make your money work for you. Most regular savings accounts give an interest of about 2-3%, and that has been a pain point for many. But no longer! With a Kotak811 Savings Account, you can earn an interest up to 7%* p.a. on your savings when subscribing for ActivMoney! Read on to learn how.
Zero Balance Savings Account with the power of Fixed Deposit
After opening a Kotak811 Zero Balance Account (takes a few minutes online): you can subscribe to the ActivMoney feature and earn up to 7%* p.a. interest on your savings account. It is one of the easiest and best ways to supercharge your savings. Kotak811 ensures that your hard-earned money multiplies over time instead of just sitting idle.
Learn more about this flexi fixed deposit facility that automatically parks excess funds from your savings account into a higher-interest deposit, and these funds can be used as needed, no charges or penalties, ever.
What is Kotak811 ActivMoney?
Kotak811 ActivMoney is a unique facility designed to make your money work harder for you. It allows you to earn a higher interest rate on the surplus funds in your savings account, offering you the dual advantage of liquidity and enhanced earnings.
Earn up to 7%* Interest: With Kotak811 ActivMoney, you can earn an attractive interest rate of up to 7%* per annum on the amount exceeding ₹25,000 in your savings account.
Auto-Booking of FDs: ActivMoney works like a bank account while providing the benefits of a fixed deposit. Your surplus funds are automatically booked in multiples of ₹5,000 as fixed deposits, ensuring you have round-the-clock access to your money.
Earnings, Boosted: Kotak811 ActivMoney allows you to amplify your earnings by offering a competitive interest rate. It is automatically booked in multiples of ₹5,000, and interest is credited after a maturity period of 180 days.
Investing, Reimagined: This facility reinvents the way you invest by providing the benefits of a fixed deposit without the commitment of a lock-in period. Your surplus funds are seamlessly “swept in” to cover any shortfall in your savings account.
Charges, Eliminated: Worried about premature withdrawals? With ActivMoney, you can put those concerns to rest. There are absolutely no charges for withdrawing your ActivMoney deposits prematurely. It’s still got the full flexibility of a savings account. Plus, you continue to earn interest on your ActivMoney balance.
How ActivMoney Works:
Sweep-Out Limit: A sweep-out limit of ₹25,000 is set for your savings account.
Balance Requirement: To avail the benefits of ActivMoney, your savings account balance must be ₹30,000 or above.
Automatic Booking: ActivMoney gets booked in multiples of ₹5,000 based on your surplus funds. For example, if your savings account balance is ₹45,000, ₹20,000 will be booked as ActivMoney, leaving a balance of ₹25,000 in your savings account. This balance is available for your immediate use without any restrictions.
Suitable ActivMoney Usage: When you have a shortfall in your savings account, such as when someone issues a cheque for ₹30,000, ₹5,000 from your latest ActivMoney deposit will be automatically “swept in” to cover the cheque.
Interest Credited: The balance in your ActivMoney continues to earn interest until maturity, and interest is credited every 180 days.
ActivMoney offers several benefits. It allows you to earn a higher FD-like interest rate of up to 7% per annum on funds in your savings account. Additionally, ActivMoney deposits are flexible and can be shifted back into your savings account without any charges or fines, providing you with higher liquidity and convenience. When you open a digital bank account with Kotak811, you can watch your savings grow at an accelerated pace.
Additional Benefits with Kotak811
Zero Balance, No Pressure
The ‘Zero Balance Account’ feature lets you save as you wish, with no minimum balance restrictions. Kotak811 helps you cater to all your needs even if you’re just starting your financial journey. Say goodbye to the stress of maintaining a minimum balance to avoid fees.
Feature-Packed Banking App
One of the most appealing features of Kotak811 is its ‘Mobile Banking” concept. You can handle all your financial transactions using the Kotak811 app, from checking your balance to paying bills – all at your fingertips. It’s like having a bank within your pocket, and you never have to leave your comfort zone.
Who doesn’t love rewards? With Kotak811, you can shop online using the Kotak811 credit card and earn 2 reward points for every transaction. You can make your purchases even more delightful by getting a little extra every time you shop.
Kotak811 provides round-the-clock access to your account information. Be it the middle of the night or a busy workday, you can continue with your banking even at non-banking hours. You can carry out banking transactions at your convenience.
Safe, Safer, Safest
Be rest assured that your financial data is safe & secure. Online banking platforms like Kotak811 employ robust security measures, including encryption and two-factor authentication, to protect your account and personal information.
Now, the phrase – “open digital bank account” make a lot more sense with Kotak811’s Zero Balance Savings Account. It is readily accessible to open a digital bank account in just a few simple steps. So, time to say goodbye to the traditional banking methods, you can complete the entire account opening process from the comfort of your home or wherever you are.
Kotak811 is your ticket to a hassle-free, high-interest savings account that fits your lifestyle. Eliminating the stress of maintaining a minimum balance, and ensuring you save more with competitive interest rates, Kotak811’s Zero Balance can be your ideal banking companion. Join the digital banking revolution today and experience the future of finance with Kotak811.
Open your digital bank account now and watch your savings accumulate!